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C L E A N E N E R G YC L E A N E N E R G Y

ION Clean Energy, Inc.Commercial Carbon Capture Design & Costing FEED StudyGlobal CCS Institute 9th Annual DC ForumMarch 3, 2020

Buz Brown, PhD, CEO

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C L E A N E N E R G Y

ION Clean Energy, Inc.ION Clean Energy (ION-CE) is a leading, Boulder, Colorado based, CO2

capture company commercializing its low aqueous, solvent technology.

Initial target markets:• Large utility and industrial CO2 emitters positioned to utilize 45Q tax credits

Company mission:• Eliminate 1 billion tonnes of CO2 emissions by 2050

ION-CE has recently completed an initial FEED Study, “Commercial Carbon Capture Design & Costing” (C3DC-1), funded by DOE/NETL, DE-FE0031595, ION-CE and partners

Host site: Nebraska Public Power District (NPPD) Gerald Gentleman Station (GGS) Unit #2, 700MW coal-fired generation

Most significant results to date:• Initial design & costing for 300 MW slipstream of GGS Unit #2• $36.6/tonne to $32.5/tonne

Presently continuing as C3DC-2 to capture 700 MW from GGS Unit #2, funded by DOE/NETL, DE-FE0031840, ION-CE and partners

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Commercial Carbon Capture Design & Costing Study(C3DC-1) Project Team and Roles

C L E A N E N E R G Y

• Technology Developer• Process Design and Project Management

• Host Site – Gerald Gentleman Station• Power Generation Engineering,

Operational & Financial Expertise

• Balance of Plant (BOP) Engineering• Overall Cost Estimate Development

• Carbon Capture Pilot Experience & Expertise• Capture Process Oversight, Design & Costing

• Supersonic CO2 Compressor Design & Costing

• Design Basis– 300 MW CO2 Capture Island – Fully integrated into GGS Unit 2

• Tasks– Process Design & Engineering– BOP Design

• Steam/Condensate System• Cooling Water System• Flue Gas Tie-in• Electricity Tie-in

• Design Challenges– Cooling Water Integration– Steam Supply Integration

• Costing– AACE Class 3: -20 to +30% Accuracy

• Carbon Capture Program Funding

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Commercial Carbon Capture Design & Costing Study

CO2 Island UnitsSlipstream 300 MWeEPC Capital Cost $438,000,000 $Loan Term 20 yearsInterest Rate 7.0% %Total OPEX $28,200,000 $/yrTotal Annual Cost $69,500,000 $/yrTotal Annual CO2 Production at 85% CF 1,900,000 tonne/yr

Cost of CO2 Capture $36.60 $/tonne

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Shand

ION - C3DC (7%)

ION - TEA (rev 4)

ION - C3DC (4.5%)

Boundary Dam

Petra Nova

Carbon Engineering

Carbon Engineering (Nth)

$20

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$160

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Direct Air Capture

Air Capture Goal

DOE Capture Goal

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ION’s Decarbonization Path Forward

• C3DC-1 provided key engineering and costing details for final FEED study• Resource needs• Plant specific challenges• $32-36/tCO2 (-20% to +30%) for our business models

• C3DC-2 will provide engineering and costing (-15% to +20%) for Firm Fixed Price (FFP) proposal

• ION is continuing to develop additional utility and industrial sites for CO2 capture, sequestration and utilization that can take advantage of 45Q Tax Credits

2018 2019 2020 2021 2022 2023 2024 2025 2036C3DC2(FEED)

C3DC(Pre-FEED)

Final Engineering& Procurement

Construction & Commissioning

45Q DeadlineCurrent C3DC-2

Full Operation

FFP/FID

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C L E A N E N E R G YC L E A N E N E R G Y

TO: GLOBAL CCS INSTITUTEFROM: ION CLEAN ENERGY TEAM AND PARTNERS

WE THANK YOU FOR THE OPPORTUNITY TO PARTICIPATE IN YOUR 9TH ANNUAL DC FORUM

Acknowledgement: This material is based upon work supported by the Department of Energy under Award Numbers DE-FE0031595 and DE-FE0031840.